NNN Leased R&D Building

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What other expenses are the landlord responsible for in a NNN lease (R&D building) besides RE taxes, insurance, and common area maintenance?

Comments(9)

  • roboxking10th July, 2006

    All NNN are not created equal. I suggest that you actually read the lease to find out what the landlord is responsible for. Traditionally, NNN means that the tenant pays taxes, insurance, and maintenance expenses that arise from the use of the property.

  • wordlink9th July, 2006

    35 investors is the max you can have. And I think you meant to say "LLP" that is: Limited Liability Partnership.

    If you have more, then start another LLP for that set of deals.
    [addsig]

  • MarleneM9th July, 2006

    There is also something important about how you solicit new investors.

  • bobhope10th July, 2006

    please explain...


    Quote:
    On 2006-07-09 20:21, MarleneM wrote:
    There is also something important about how you solicit new investors.

  • wordlink11th July, 2006

    Marlene wrote: Quote: There is also something important about how you solicit new investors

    What she is referring to is this: Suppose you form an LLP to raise the money for the project. Your attorney draws up a Private Placement Memorandum (PPM) that discloses the whole plan, potential profit, etc.

    You cannot under any circumstances just casually mention this and ask for money.

    If a person is an accredited investor (basically, more than $1MM in assets) then fine. But if not, you can only mention it to a maximum of 35 people.

    Your attorney can tell you more.

  • REOCON11th July, 2006

    It all depends how big and serious you and your investors wan to go. For example, in smaller to mid size deals, your corporation could be a managing partner of an LLC with all responsibilities and decision rights assumed. LLC owns the property and your investors are passive members with pre determent shares of the ownership. To avoid problems, your LLC agreement should spell out all the terms, including those relative to how a member can exit the deal, how the buyouts are performed, etc.

  • commercialking13th July, 2006

    You might try this link. There are several other threads which have discussed this matter.

    http://www.thecreativeinvestor.com/commercial/modules.php?op=modload&name=Forum&file=viewtopic&topic=26775&forum=12

    If I may, an unsolicited plug for Joel (the site owner here) one of the best things about this site is the forum search engine but you must subscribe to use it. A search of such terms as syndicate, LLC, Limited Partnership, REIT, etc. will yield a wealth of information on these topics.

  • loandudefromsac17th July, 2006

    craiglist it!

  • wordlink19th July, 2006

    My whole point is that it may be in his contract that he may NOT list it anywhere until all of the other condos are sold.

    As the number remaining yet to sell gets smaller, the builder will keep raising the price. Work through them to get the best price.

    Looks like you have a winner.
    [addsig]

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